Additional Information
Market: NYSE
Sector: Personal Products
EPIC: KORS
Latest Price: 91.14  (-0.33% Descending)
52-week High: 99.84
52-week Low: 53.52
Market Cap: 18,585.90M
1 year chart
1 day chart
Michael Kors Holdings
www.michaelkors.com
Michael Kors Holdings Limited is a designer, marketer, distributor and retailer of women’s apparel and accessories and men’s apparel bearing the Michael Kors name and MICHAEL KORS, MICHAEL MICHAEL KORS, KORS MICHAEL KORS and various other related logos.

Michael Kors stock up as Q2 profit more than doubles, sales surge

13th Nov 2012, 2:36 pm by Deborah Bacal
The company, which held an IPO in December, also raised its full year earnings estimate by nine cents, to between $1.48 and $1.50 a share. It lifted its sales guidance by $10 million to a range of $1.86 to $1.96 billion. The company, which held an IPO in December, also raised its full year earnings estimate by nine cents, to between $1.48 and $1.50 a share. It lifted its sales guidance by $10 million to a range of $1.86 to $1.96 billion.

Michael Kors Holdings (NYSE:KORS) shares rose after the accessories and apparel retailer said second quarter earnings more than doubled as same store sales grew. 

The company, which held an IPO in December, also raised its full year earnings estimate by nine cents, to between $1.48 and $1.50 a share. It lifted its sales guidance by $10 million to a range of $1.86 to $1.96 billion. 

The seller of clothing, footwear, and other accessories had already raised its full year outloook in September. 

For the quarter that ended September 29, Michael Kors reported a profit of $97.8 million, or 49 cents a share, up from $40.6 million, or 22 cents, a year earlier. 

Excluding a charge related to the employee-share-option redemption associated with its private placement, earnings were 25 cents in the latest period. 

Revenue jumped a whopping 74 per cent to $532.9 million, beating its own projections from September by a wide margin. 

Retail sales jumped 82 per cent, as same store sales grew 45 per cent. Wholesale revenue rose 75 per cent thanks to the expansion of its brand in department stores, while licensing royalties increased 13 per cent. 

Gross margin improved to 59.8 per cent from 56.9 per cent in the year earlier period. 

For the current quarter, it forecast earnings of 37 to 39 cents per share, on revenue of $525 to $535 million. Analysts surveyed by Thomson Reuters expect 39 cents on $524 million for the fiscal third quarter.

Shares in the company were up 1.5 per cent at $51.34 on Tuesday afternoon.

No investment advice


Proactive Investors North America Inc, trades as "Proactiveinvestors USA & Canada".


You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.


You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.


From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.


You understand that we may be providing advertising and/or marketing services to companies mentioned on the site. A full list of companies that are paying for services from us, or our affiliated companies in the UK and Australia can be viewed here